EGB OPTIONS: Bund call spread
Jul-28 10:18
RXU3 134/136cs 1x1.5, bought for 32 in 4k
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OUTLOOK: Price Signal Summary - Gold Trades Lower And Resumes Its Downtrend
Jun-28 10:16
- On the commodity front, the bear cycle in Gold remains intact and today’s weakness reinforces current conditions. The move lower confirms a resumption of the downtrend and extends the bearish price sequence of lower lows and lower highs. The focus is on $1903.5, 61.8% of the Feb 28 - May 4 bull cycle. A break would open $1885.8, the Mar 15 low. Key resistance is $1985.3, the May 24 high. Initial resistance is at $1946.4, the 20-day EMA.
- In the oil space, WTI futures remain in a bear mode condition and the sharp sell-off late last week reinforces this condition. Support at $67.21, the May 31 low, has again been pierced today, a clear break would open $64.41, the May 4 low. Moving average studies are in a bear mode position highlighting a downtrend. The contract is trading below resistance at $75.70, the Jun 5 high. A break of this level would signal a reversal. Initial resistance is at $72.72, the Jun 21 high.
LOOK AHEAD: Wednesday Data Calendar: Inventories, Fed Speak, Bank Stress Test
Jun-28 10:13
- US Data/Speaker Calendar (prior, estimate)
- Jun-28 0700 MBA Mortgage Applications (0.5%, --)
- Jun-28 0830 Retail Inventories MoM (0.2%, 0.2%)
- Jun-28 0830 Wholesale Inventories MoM (-0.1%, -0.1%)
- Jun-28 0830 Advance Goods Trade Balance (-$97.1B rev, -$93.7B)
- Jun-28 0930 Fed Chair Powell, ECB Lagarde, BOJ Ueda, BOE Bailey from ECB Central Bank Forum, Sintra Portugal
- Jun-28 1130 US Tsy $22B 2Y FRN Note auction (91282CGY1), and $46B 17W Bill sale
- Jun-28 1300 US Tsy $35B 7Y Note auction (91282CHJ3)
- Jun-28 1630 Federal Reserve Board annual bank stress tests results
EGB SYNDICATION: Italy syndicated exchange: Final spread
Jun-28 10:12
- Books for Oct-31 CCTeu above E13.8bln (ex JLM interest)
- Final spread 6-month Euribor + 114bp
- (Guidance was 6-month Euribor + 116bp area)
- Bookrunners: SIENA, BNPP, IMI (B&D), UniCredit
Source: Bloomberg
MEF is looking to buy back:
- 2.45% Oct-23 BTP (ISIN: IT0005344335)
- 0.65% Oct-23 BTP (ISIN: IT0005215246)
- 0.25% Nov-23 BTP Italia (ISIN: IT0005312142)
- Dec-23 CCTeu (ISIN: IT0005399230)
- Apr-25 CCTeu (ISIN: IT0005311508)
